Roffman Miller Associates Inc. PA Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Roffman Miller Associates Inc. PA decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,862 shares of the business services provider’s stock after selling 1,841 shares during the period. Automatic Data Processing makes up about 3.2% of Roffman Miller Associates Inc. PA’s investment portfolio, making the stock its 7th largest position. Roffman Miller Associates Inc. PA’s holdings in Automatic Data Processing were worth $52,066,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC grew its holdings in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter worth about $35,000. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David Foskett sold 1,004 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP stock opened at $310.76 on Monday. The firm has a market cap of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. The firm has a 50-day simple moving average of $298.72 and a two-hundred day simple moving average of $290.54. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $313.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.